Were Banks affected by CrowdStrike - Microsoft Outage ?

The CrowdStrike glitch, which caused a major global IT outage, impacted several banks and financial institutions.

Credit : Business Insider India

Let’s delve into each of the banks impacted by the CrowdStrike glitch and Microsoft’s recent IT outage:

1. Arvest Bank: Arvest Bank, headquartered in Bentonville, Arkansas, is a regional bank serving customers across Arkansas, Oklahoma, Missouri, and Kansas. Known for its community-oriented approach, Arvest offers personal and business banking services, including checking accounts, loans, and investment options. The recent outage disrupted online banking services, affecting customers’ access to accounts and transactions.

2. Bank of America: As one of the largest banks in the United States, Bank of America operates nationwide. It provides a wide range of financial services, including retail banking, wealth management, and investment banking. The outage impacted online banking, mobile apps, and ATM services, causing inconvenience for millions of customers.

3. Capital One: Capital One, headquartered in McLean, Virginia, is a major credit card issuer and retail bank. It offers credit cards, auto loans, and mortgage services. The outage affected Capital One’s online platforms, hindering customers’ ability to check balances, make payments, and access account information.

4. Charles Schwab: Charles Schwab is a well-known brokerage firm and bank, specializing in investment services. The outage disrupted trading platforms, account management tools, and customer support services. Investors faced challenges in executing trades and accessing market data.

Credit : American Banker

5. Chase: JPMorgan Chase, commonly known as Chase, is one of the largest banks in the U.S. It provides retail banking, commercial banking, and investment services. The outage impacted online banking, credit card transactions, and ATM withdrawals, affecting millions of customers.

6. TD Bank: TD Bank, a subsidiary of the Toronto-Dominion Bank, operates primarily in the eastern United States. It offers retail banking, mortgage services, and investment products. The outage disrupted online banking, mobile apps, and customer service channels.

7. US Bank: US Bank, headquartered in Minneapolis, Minnesota, is a major regional bank with branches across the country. It provides personal and business banking services, including loans, credit cards, and wealth management. The outage affected online banking, bill payments, and account inquiries.

8. Wells Fargo: Wells Fargo, based in San Francisco, California, is one of the oldest and largest banks in the U.S. It offers retail banking, mortgage services, and investment solutions. The outage impacted online banking, mobile apps, and ATM services, causing inconvenience for its extensive customer base.

In summary, the CrowdStrike glitch and Microsoft’s IT outage disrupted critical banking services, highlighting the importance of robust IT infrastructure and contingency plans for financial institutions. 😊🏦